š„Highlightsš„
ā”AI altcoins like TAO, FET, and RENDER are gearing up for a decisive breakout fueled by impressive sectoral performance and notable on-chain growth.
ā”Bittensor price rally backed by OI growth indicates a sustained recovery trend.
ā”A downsloping trendline has driven a correction trend in the Render price since March 2024.
Discover the top AI altcoins set for a 5X rally driven by sector dominance, whale accumulation, and on-chain growth.
In 2024, Artificial Intelligence (AI) has rapidly gained traction across various sectors, including cryptocurrency, by merging AI-powered solutions with blockchainās decentralized infrastructure. This integration has led to a 35.1% surge in AI altcoins over the past month, positioning them for strong growth in Q4 despite Septemberās market correction. Here are the top ones that can deliver significant gains as the sector evolves and attracts more investment.
š„3 AI Altcoins Poised for 5X Gains as Sector Growth Acceleratesš„
According to Artemis, Artificial Intelligence (AI) dominated the crydipto sector with a substantial 35.1% surge over the past month. Defying the September month correction, the sustained growth in AI altcoins positions them for a prolonged rally in Q4, typically bullish for the broader market. Below are top AI cryptos set to 500% (5X) as their performance far outpaces other sectors.
š„Bittensor(TAO)š„
Bittensor (TAO) is a decentralized network focused on artificial intelligence (AI), specifically aiming to create an open-source, decentralized marketplace for machine learning models. In the last five weeks, the TAO price showed a significant recovery from $220 to $640, recording 190% growth.
In the same period, the TAOās future open interest rallied from $49 Million to $224.2 Millionā a 357% increase. This spike indicates heightened investor activity in anticipation of a higher momentum in the asset.
Among other AI altcoins, the Bittensor price is one resistance ($675) breakout away from surpassing the all time high of $767.8.
š„Artificial Superintelligence Alliance (FET)
The Artificial Superintelligence Alliance (ASI), involving a merger of Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN), aims to create a unified decentralized AI ecosystem. These AI altcoins are fall under the FET ticker, currently trading at $1.4 and holding a market cap of $3.58 Billion.
According to Santiment data, the 30-day Market Cap to Realized Cap Ratio (MVRV) plunged to -14%, indicating that short-term investors are at a loss. These speculative trades often exit the market in fear and attract long-term buyers to fuel a sustained recovery.
Thus, the FET price poised for a $1.7 resistance breakout could signal a major reversal rally.
š„Render (RENDER)š„
Render is a decentralized cloud computing network that allows users to share and monetize their idle GPU power. Unlike other AI altcoins, RENDER price has been stuck in sideways trading for over 100 days, awaiting a suitable breakout to ignite the next rally.
By press time, the Render price had traded at $5.22, boosting to $2.76 billion. The asset has been 13% away from challenging a downsloping trendline intact since March 2024. A potential breakout will signal the end-of-correction trend and drive the Render coin past $10.
Additionally, the percentage of supply held by top addresses has been steadily increasing, now reaching 74.3%. The accumulation by key stakeholders suggests a strong belief in the assetās long-term potential.
š„Conclusion:š„
The Al altcoins such as Bittensor, Artificial Superintelligence Alliance, and Render are poised for a high momentum rally in Q4. This comes amid whale accumulation and growth in future derivative markets.
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